Wells Fargo & Company MN Has $4.79 Million Stake in The Gorman-Rupp Company (NYSE:GRC)

Wells Fargo & Company MN grew its position in The Gorman-Rupp Company (NYSE:GRC) by 2.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 126,363 shares of the industrial products company’s stock after acquiring an additional 2,538 shares during the period. Wells Fargo & Company MN’s holdings in Gorman-Rupp were worth $4,792,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GRC. Centricity Wealth Management LLC bought a new stake in Gorman-Rupp in the 4th quarter valued at $38,000. Inceptionr LLC raised its position in Gorman-Rupp by 9.5% during the fourth quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company’s stock worth $265,000 after acquiring an additional 609 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Gorman-Rupp in the 4th quarter valued at about $344,000. Y Intercept Hong Kong Ltd grew its holdings in Gorman-Rupp by 13.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 9,913 shares of the industrial products company’s stock worth $376,000 after purchasing an additional 1,147 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in Gorman-Rupp during the third quarter worth approximately $399,000. 59.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 25th.

Gorman-Rupp Price Performance

Gorman-Rupp stock opened at $33.47 on Monday. The firm has a market cap of $877.75 million, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The stock’s fifty day moving average price is $36.26 and its two-hundred day moving average price is $38.21. The Gorman-Rupp Company has a one year low of $30.47 and a one year high of $43.79.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, research analysts expect that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $0.185 per share. The ex-dividend date was Friday, February 14th. This represents a $0.74 dividend on an annualized basis and a yield of 2.21%. Gorman-Rupp’s dividend payout ratio is currently 48.37%.

Gorman-Rupp Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.